Variable Payment Scheduling Method and System

Abstract

A method is provided. The method includes one or more of receiving, from a merchant device, information about a purchase transaction by a consumer, calculating, by a credit server, a plurality of payment times comprising an immediate payment time and a later payment time, transmitting, to a client device, the plurality of payment times, selecting a payment time of the plurality of payment times, receiving, by the credit server, the selected payment time, scheduling, by the credit server, processing of the purchase transaction at the selected payment time, and processing the purchase transaction at the selected payment time.

We claim: 
     
         1 . A method comprising:
 receiving, from a merchant device, information about a purchase transaction by a consumer;   calculating, by a credit server, a plurality of payment times comprising an immediate payment time and a later payment time;   transmitting, to a client device, the plurality of payment times;   selecting a payment time of the plurality of payment times;   receiving, by the credit server, the selected payment time;   scheduling, by the credit server, processing of the purchase transaction at the selected payment time; and   processing the purchase transaction at the selected payment time.   
     
     
         2 . The method of  claim 1 , wherein prior to calculating the plurality of payment times, the method further comprising:
 determining, by the credit server, that a payment time can be offered to the consumer.   
     
     
         3 . The method of  claim 2 , wherein each of determining that a payment time can be offered to the consumer and calculating the plurality of payment times is based on one or more of a date, a pay-date of the consumer, wages earned for a time period, the consumer's credit rating, information about a consumer's transaction history with the merchant, information about a consumer's transaction history with a plurality of merchants, information about a particular purchase or sale, or information about any merchant-supported promotions. 
     
     
         4 . The method of  claim 3 , wherein determining that a payment time can be offered to the consumer comprises:
 determining, by the credit server, that a payment time can be offered for greater than none and less than all purchase transactions.   
     
     
         5 . The method of  claim 1 , wherein the consumer uses a debit card to pay for the purchase transaction. 
     
     
         6 . The method of  claim 1 , wherein one or more payment times of the plurality of payment times are associated with a corresponding transaction fee, wherein earlier payment times of the plurality of payment times are associated with a lower transaction fee than later payment times of the plurality of payment times. 
     
     
         7 . The method of  claim 6 , wherein the client device comprises:
 an application; and   a display screen;   wherein the application displays on the display screen information identifying the purchase transaction, the plurality of payment times, and for payment times associated with a corresponding transaction fee, the transaction fee,   wherein the application identifies on the display screen and transmits a selected payment time and corresponding transaction fee, if a transaction fee is applicable to the selected payment time,   wherein scheduling, by the credit server, processing of the purchase transaction at the selected payment time comprising:
 scheduling a debit to a consumer account by a transaction amount of the purchase transaction and the selected transaction fee, if a transaction fee is applicable, and 
   wherein processing the purchase transaction at the selected payment time comprising:
 debiting, by the credit server, a consumer account by the transaction amount of the purchase transaction and the selected transaction fee, if a transaction fee is applicable. 
   
     
     
         8 . A system, comprising:
 a network;   a merchant device, coupled to the network, configured to perform a purchase transaction for a consumer;   a credit server, coupled to the network, configured to:
 receive information about the purchase transaction from the merchant device; 
 calculate a plurality of payment times comprising an immediate payment time and a maximum payment time; 
 transmit the plurality of payment times; 
 receive a selected payment time; 
 schedule processing of the purchase transaction at the selected payment time; and 
 process the purchase transaction at the selected payment time; 
   a client device, coupled to the network, configured to:
 receive the plurality of payment times; 
 present the plurality of payment times to the consumer; 
 identify the selected payment time of the plurality of payment times; and 
 transmit the selected payment time. 
   
     
     
         9 . The system of  claim 8 , wherein a banking server processes the purchase transaction at the selected payment time instead of the credit server. 
     
     
         10 . The system of  claim 8 , wherein prior to the credit server calculates a plurality of payment times, the credit server determines that a non-immediate payment time can be offered to the consumer. 
     
     
         11 . The system of  claim 10 , wherein each of the credit server determines that a payment time can be offered to the consumer and the credit server calculates the plurality of payment times is based on one or more of a date, a pay-date of the consumer, wages earned for a time period, the consumer's credit rating, information about a consumer's transaction history with the merchant, information about a consumer's transaction history with a plurality of merchants, information about a particular purchase or sale, or information about any merchant-supported promotions. 
     
     
         12 . The system of  claim 10 , wherein the credit server determines that a payment time can be offered to the consumer for greater than none and less than all purchase transactions. 
     
     
         13 . The system of  claim 8 , wherein the credit server is further configured to notify at least one of the merchant device and the client device of completed payment for the purchase transaction. 
     
     
         14 . The system of  claim 8 , wherein the consumer uses a debit card to pay for the purchase transaction. 
     
     
         15 . The system of  claim 8 , wherein one or more payment times of the plurality of payment times are associated with a corresponding transaction fee, wherein earlier payment times of the plurality of payment times are associated with a lower transaction fee than later payment times of the plurality of payment times. 
     
     
         16 . The system of  claim 15 , wherein the client device comprises:
 an application;   a display screen; and   a payment identification control,   wherein the application displays on the display screen information identifying the purchase transaction, the plurality of payment times, and for payment times associated with the corresponding transaction fee, the transaction fee,   wherein the application identifies and transmits a selected payment time and corresponding transaction fee, if a transaction fee is applicable to the selected payment time, with the payment identification control, wherein the selected transaction fee, if applicable, is uniquely associated with the selected payment time,   wherein the credit server schedules processing of the purchase transaction comprises the credit server schedules a debit to a consumer account by a transaction amount of the purchase transaction and the selected transaction fee, if a transaction fee is applicable, and   wherein the credit server processes the purchase transaction at the selected payment time comprises the credit server debits a consumer account by the transaction amount of the purchase transaction and the selected transaction fee, if a transaction fee is applicable.   
     
     
         17 . A non-transitory computer readable storage medium configured to store instructions that when executed cause a processor to perform:
 receiving, from a merchant device, information about a purchase transaction by a consumer, the information comprising at least a purchase amount and a purchase date;   calculating, by a credit server, a plurality of payment times comprising an immediate payment time and a later payment time;   transmitting, to a client device, the plurality of payment times;   selecting a payment time of the plurality of payment times;   receiving, by the credit server, the selected payment time;   scheduling processing of the purchase transaction at the selected payment time; and   processing the purchase transaction at the selected payment time.   
     
     
         18 . The non-transitory computer readable storage medium of  claim 17 , wherein prior to calculating the plurality of payment times, the method further comprising:
 determining, by the credit server, that a payment time can be offered to the consumer,   wherein each of determining that a payment time can be offered to the consumer and calculating the plurality of payment times is based on one or more of a date, a pay-date of the consumer, wages earned for a time period, the consumer's credit rating, information about a consumer's transaction history with the merchant, information about a consumer's transaction history with a plurality of merchants, information about a particular purchase or sale, or information about any merchant-supported promotions.   
     
     
         19 . The non-transitory computer readable storage medium of  claim 17 , wherein one or more payment times of the plurality of payment times are associated with a corresponding transaction fee, wherein earlier payment times of the plurality of payment times are associated with a lower transaction fee than later payment times of the plurality of payment times. 
     
     
         20 . The non-transitory computer readable storage medium of  claim 19 , wherein the client device comprises:
 an application;   a display screen; and   a payment identification control,   wherein the application displays on the display screen information identifying the purchase transaction, the plurality of payment times, and for payment times associated with a corresponding transaction fee, the transaction fee,   wherein the application identifies and transmits a selected payment time and corresponding transaction fee, if a transaction fee is applicable to the selected payment time, with the payment identification control,   wherein scheduling processing of the purchase transaction at the selected payment time comprising:
 scheduling, by the credit server, a debit to a consumer account by a transaction amount of the purchase transaction and the selected transaction fee, if a transaction fee is applicable, and 
   wherein processing the purchase transaction at the selected payment time comprising:
 debiting, by the credit server, a consumer account by the transaction amount of the purchase transaction and the selected transaction fee, if a transaction fee is applicable.